Digi International Q3 Net Income Rises; Revenue Up 8%

(RTTNews) - Digi International Inc. (DGII) reported that its third-quarter net income increased to $6.7 million from $4.1 million, prior year. Net income per share was $0.18, up from $0.12, an increase of 50%. Adjusted EPS was $0.50, an increase of 11%. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter. Analysts' estimates typically exclude special items.

Third quarter revenue was $112 million, an increase of 8%. Analysts on average had estimated $109.27 million in revenue. Annualized Recurring Revenue was $104 million at quarter end, an increase of 13%.

For the fourth quarter, the company expects revenue of $108 million to $112 million, or growth of 2% to 6% year-over-year. Adjusted EPS is expected to be $0.46 to $0.49.

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